http://roaringapps.com/app:2141
says it has been tested in OSX 10.8 and it doesn't work properly. I guess we'll have to wait for Canon to update their software. Hopefully, it won't take them a year to update, like how it went for 10.7.

This is one of the reasons why I am not yet updating to 10.8 as I rely on the EOS Utility quite heavily.
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aluxious™